India's experience with free trade agreements has been bitter. Can the country learn from its mistakes?

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Goyal says India backed out of the Regional Comprehensive Economic Partnership because it was an 'unbalanced trade agreement', which was not fulfilling RCEP's guiding principles

World Economic Forum: Talking about the Regional Comprehensive Economic Partnership (RCEP), Commerce and industry minister Piyush Goyal added that the regional economic pact in its present form was clearly an unrealisable agreement

RCEP brings together the 10-member Association of Southeast Asian Nations, China, Japan, South Korea, Australia and New Zealand

In November, China joined 14 countries in agreeing terms for RCEP, with India pulling out at the last minute saying the deal would hurt its farmers, businesses, workers and consumers

Commerce Secretary Anup Wadhawan says the current slowdown in exports is mainly due to a decline in petroleum products, which constitute 13.42 per cent of the overall outward shipments

Goyal further said the government is also looking at pooling together land which state and central governments have got to offer to investors for setting up their businesses in India

\"To ensure that we continue this positive trend in midst of rising trend of protectionism, ASEAN and India economies should continue to uphold an open and inclusive strategic outlook,\" says the Indonesian foreign minister

Australia and India need to become dependable development partners, where Australia recognises and responds to New Delhi's priorities of creating a New India, gaining influence on the global stage, and raising living standards at home

RCEP in its current form does not adequately address these concerns and joining it would have been unfair to the country's interests, says Union Commerce Minister Piyush Goyal

Talking about investments, he cautioned the e-commerce companies to follow the laws properly as millions of small traders are involved in the business in the country

The fund would also bag investments from institutions such as LIC and SBI, which would expand the corpus to Rs 25,000 crore.

Centre approves Rs 25,000 crore bailout fund for stalled housing projects, China says RCEP countries committed to work with India to resolve trade deal issues and other news on News Blast.

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Chinese Vice-Commerce Minister and top trade negotiator Wang Shouwen also expressed confidence that the differences on RCEP would be resolved by the end of this year